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Bitcoin Rips, Meets Resistance

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Bitcoin saw a nice burst of momentum, and has blasted through resistance at $20.7K, testing the next level at $22.4K. We are currently seeing a red triangle on the KRI confirming resistance there, and have retraced a bit. It is unlikely BTC can muster the strength to press higher but if it does, the next target is $23.9K. If we retrace from here, $20.7K should provide support, but if not, there is a vacuum zone to $18.6K.

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